Principal Financial Group Inc. reduced its position in Lamb Weston Holdings Inc (NYSE:LW) by 66.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 218,483 shares of the specialty retailer’s stock after selling 433,119 shares during the period. Principal Financial Group Inc. owned about 0.15% of Lamb Weston worth $16,071,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in LW. MML Investors Services LLC boosted its holdings in shares of Lamb Weston by 37.0% in the 3rd quarter. MML Investors Services LLC now owns 6,972 shares of the specialty retailer’s stock worth $464,000 after acquiring an additional 1,884 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lamb Weston by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,668,212 shares of the specialty retailer’s stock worth $111,104,000 after acquiring an additional 9,483 shares in the last quarter. Martingale Asset Management L P boosted its holdings in shares of Lamb Weston by 66.0% in the 3rd quarter. Martingale Asset Management L P now owns 13,842 shares of the specialty retailer’s stock worth $922,000 after acquiring an additional 5,502 shares in the last quarter. Shell Asset Management Co. acquired a new position in shares of Lamb Weston in the 3rd quarter worth approximately $1,115,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Lamb Weston by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 391,840 shares of the specialty retailer’s stock worth $26,091,000 after acquiring an additional 4,896 shares in the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on LW. Zacks Investment Research raised Lamb Weston from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Thursday, April 4th. Stifel Nicolaus boosted their target price on Lamb Weston from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Consumer Edge assumed coverage on Lamb Weston in a report on Friday, March 22nd. They issued an “outperform” rating on the stock. Daiwa Capital Markets assumed coverage on shares of Lamb Weston in a research report on Wednesday, February 27th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group set a $85.00 price objective on shares of Lamb Weston and gave the stock a “buy” rating in a research report on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $78.83.
Lamb Weston (NYSE:LW) last posted its quarterly earnings data on Tuesday, April 2nd. The specialty retailer reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.13. The firm had revenue of $926.80 million during the quarter, compared to analysts’ expectations of $898.46 million. Lamb Weston had a net margin of 12.47% and a negative return on equity of 230.44%. Lamb Weston’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. On average, equities research analysts anticipate that Lamb Weston Holdings Inc will post 3.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, May 2nd. Lamb Weston’s payout ratio is 30.08%.
About Lamb Weston
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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